Ethereum is up 2,8% and has broken out of its descending trendline. Lets have a look at this 4-hour chart for Ethereum:
Comment: From this chart we can see that Ethereum broke out about 24 hours ago and is right now trading at 309 USD. The next target is 320 and I would be surprised if it doesnt reach that level.
Now, if Ethereum reach and close above 320 then we have next resistance at 350 and finally 400 which is the latest All Time High.
Happy trading!
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That's quite healthy to look at it in a USD perspective. I imagine a large number of people are like me and look at the value of ETH in terms of BTC. In that respect, ETH appears to have been losing value, but that of course is just due to Bitcoin having gained so much. Perhaps that balance will be temporarily addressed if we see another significant Bitcoin correction.
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Breakout is imminent!
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